Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Real Life Money summary
Clare Seal
An Honest Guide to Taking Control of Your Finances
23 mins
Topics
Table of Contents
Real Life Money
Summary of 8 key ideas
Audio & text in the Blinkist app
Key idea 1 of 8
If you’re struggling with your finances, it may be because the circumstances are outside of your control.
Are you one of those people who can’t bear to check their bank balance at an ATM? Do you push warning letters from the bank under a pile of magazines, far out of sight? You’re not alone.
If your finances are a mess, take a breath. While it’s important to take ownership of your situation and take steps to get back on track, not all of it is your fault. When it comes to money, one thing that puts many people at a disadvantage is a lack of financial knowledge.
The key message here is: If you’re struggling with your finances, it may be because the circumstances are outside of your control.
Consider the state of financial education. In UK schools, there is none – not a single class on the subject. So when, at 16- or 18-years-old, students leave for either work or university, most don’t have the faintest idea about savings, debt, or mortgages.
In the case of the author, the only time she recalls talking about money at school was when an eccentric teacher boasted about successfully manipulating a store-credit scheme. Other than that, nothing!
Instead, financial education is a job that’s often left to parents. And that can be a lottery – lots of people aren’t born to parents who know about money. Though they might be able to teach lots of other valuable things, it’s a rare few who’ll know about, say, investing or mortgages.
As well as being disadvantaged by a lack of financial education, lots of young people are also affected by the broader economic situation. Since the 2008 financial crisis, many people have struggled through no fault of their own. In the United Kingdom, things are especially dire. The Conservative government has watered down protections that once guaranteed job security and rising wages. And, with secure work hard to come by, it’s become more difficult to put money aside – whether toward a pension, for a home, or even to avoid going into debt.
This financial insecurity is a much bigger problem than individual failings. In January 2019, the average UK household debt stood at £15,400. It’s clearly a bigger problem than people overspending on holidays, clothes, and trendy furniture they’ve seen on Instagram!
While there are concrete things you can do to improve your financial position, it’s important to remember: it’s not all your fault.
Want to see all full key ideas from Real Life Money?
Key ideas in Real Life Money
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Real Life Money about?
Real Life Money (2020) is part memoir, part financial guide. Through describing her own painful struggle with debt, author Clare Seal sets out a path for anyone wanting to get a handle on their finances. She examines the complex personal relationships that many of us have with money, as well as the social and economic factors that determine our circumstances.
Who should read Real Life Money?
- Anyone struggling with debt
- Millennials with their finances in disarray
- Renters worried they’ll never get a foot on the property ladder
Categories with Real Life Money
Books like Real Life Money
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked
Start growing with Blinkist now
28 Million
Downloads on all platforms
4.7 Stars
Average ratings on iOS and Google Play
91%
Of Blinkist members create a better reading habit*
*Based on survey data from Blinkist customers